7 Things you need to know today

Sep 13th, 2018 Lubabalo Poswa 37 Views

CAPE TOWN: Good morning. This is all the latest business news that you need to know today.

1. Former President Jacob Zuma wants land to be nationalised

When speaking to students at the Walter Sisulu University in the Eastern Cape on Wednesday, Former President Jacob Zuma said the reason that black people are poverty stricken is that the land was taken from them.

2. SA gets a new debt relief bill

Parliament has approved a new bill aimed to help over-indebted South Africans who earn less than R7 500 a month. The bill was also set- up to encourage and enforce responsible lending and borrowing as illegal lending will be criminalised.

3. NGO points fingers at Ian Neilson over R140m loss

Mayoral hopeful Ian Neilson has been fingered to be partly to blame for the loss of R140 million of public money due to an alleged botched auction of prime land on the Foreshore.

4. SIU to probe whether kickback was paid for SAP contract

The Special Investigating Unit (SIU) will investigate whether a kickback of more than R35 million was paid for a state contract with German software firm SAP, a spokeswoman for the unit told Reuters.

5. Battle looms over South Africa’s land-seizure plan

A legal battle may be looming over plans by South Africa’s ruling party to change the constitution to make it easier to expropriate land without paying for it, with widely divergent views over the process that needs to be followed.

6. #SAInnovationSummit: SA needs to undergo a learning revolution

The focus of this year event is to unlock Africa’s talent and to introduce it to the market, investors, collaboration partners etc.

7. FairPlay takes VAT-free chicken fight to Parliament

Chicken came out as the clear favourite to be VAT-exempted for the support of South Africa’s poor, when stakeholders presented their responses to the Woolard Panel of Expert’s report in Parliament today. Article: Gabriella Steyn/ Video: Lubabalo Poswa/ANA